Friday on “CBS This Morning,” Democratic presidential candidate Sen. Bernie Sanders (I-VT) said if elected he will create “universal health care for every man, woman and child,” and put private insurance companies “out of business.”

Co-host Norah O’Donnell asked, “There’s no disputing what you’re talking about. I think, what your own Democratic governor — and you’re running as a Democrat — encountered in Vermont is that while it was an ideal to give everyone health care for all. The ability of actually paying for it became the real problem and he didn’t want to bust the budget in Vermont.”

Sanders answered, “What we are talking about now, number one, let’s be clear. We spend far more per capita on health care than do the people of any other country. Thirty million people today have zero health insurance. Millions more are under insured. No one debates that fact. What the story is, is how can you create universal health care for every man, woman and child and do it in a cost and effective way. Other countries do it. The United States of America can do it. Now, I know the private insurance companies don’t like this idea, we’re going to put them out of business. And the drug companies that are ripping off the American people and charging us the highest prices in the world, don’t like the idea. Tough luck.”